Are you looking to gain exposure to cryptocurrencies but unsure which projects to invest in?
There are more than 25,000 cryptos available to purchase and while many offer the potential for massive gains, others turn out to be total failures or outright scams.
For both new and experienced crypto investors, the sheer size of the market can be overwhelming.
In this guide, we analyze the best crypto to buy now and over a wide range of projects to suit both short and long-term investors, from upcoming projects still in their presale stage to established favorites such as Bitcoin and Ethereum.
Read on to discover the top crypto assets for 2023.
The Best Crypto to Buy Now Shortlisted
Here’s an overview of the 15 best crypto to buy now:
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- Wall Street Memes (WSM) – We rank Wall Street Memes as the best cryptocurrency to buy today. Having already raised over $25 million in its presale – which closes at the end of September – this is one of the hottest meme coin projects of the year. Wall Street Memes has a substantial online following, with more than 40 million people view its memes every month.
- Sonik Coin (SONIK) – Brand new meme crypto with a world-first stake-2-speed model previously generating an APY of 26,648%. Gunning for a $100 million market cap, the presale has already raised almost $700k since it launched.
- Launchpad XYZ (LPX) – Launchpad XYZ is a consumer-focused portal for Web3 investments. It simplifies the world of Web3 and makes it more accessible to everyday investors. Some of its features include an alpha Telegram group, AI-backed insights, tokenized real estate, and access to exclusive NFT mints. The Launchpad XYZ presale offers an early-bird discount and has already raised over $1.45 million.
- yPredict (YPRED) – This new crypto project enables data scientists and quants to monetize their predictive models. Each model is backed by artificial intelligence and machine learning. yPredict models streamline the analysis process through trading signals and chart recognition alerts. The yPredict presale has raised over $3.6 million so far.
- Chimpzee (CHMPZ) – This sustainable crypto project is making the world a more sustainable place. It has many green initiatives, including tree planting and donations for endangered animals. Chimpzee has also built a play-to-earn game with crypto and NFT rewards. The Chimpzee presale is offering an early-bird bonus of up to 100%. Over $1.25 million in presale funding has already been secured.
- Scorpion Casino (SCORP) – This is one of the best crypto to invest in 2023 for exposure to decentralized gambling. Scorpion Casino has developed a casino and sportsbook that offers many perks, such as anonymity and generous bonuses. SCORP holders can stake their tokens for casino rewards and passive income. Its recently launched presale, which has now raised $800k, is offering a bonus of up to 500%.
- eTukTuk (TUK) – This is another new cryptocurrency that is focused on green initiatives. It is building a network of electric tuk-tuks alongside charging stations. This niche market will witness major demand in emerging economies. TUK tokens can be used to purchase an eTukTuk and pay for charging services. Its presale is currently offering a 40% discount to early investors and has raised almost $50k.
- Pikamoon (PIKA) – This newly founded project has built an innovative play-to-earn game with tokenized rewards. Pikamoon games can be played in the ‘Pikaverse’, which is the project’s native metaverse world. Presale investors are snapping up PIKA tokens; almost $4 million has been raised so far.
- XRP20 (XRP20) – XRP20 is based on the original XRP project but with many improvements. Not only can XRP20 holders stake their tokens for passive rewards, but the project has a burning mechanism. This reduces the supply of XRP20 over time, making it deflationary. The XRP20 presale is finished and the project is now offering an estimated APY of 40%.
- Polygon (MATIC) – Polygon is an established layer-2 solution for the Ethereum ecosystem. More than 200 ERC-20 tokens have bridged to Polygon to benefit from scalable and cost-effective transactions. Network fees are paid in Polygon’s native cryptocurrency, MATIC, giving MATIC a real-world use case.
- Chainlink (LINK) – Chainlink connects blockchains with the real world via ‘Oracles’. Its innovative technology collects and distributes real-time data for smart contracts. This enables traditional industries to offer decentralized and autonomous services, such as finance and insurance.
- Ethereum (ETH) – More than 450,000 tokens operate on the Ethereum blockchain, with a combined worth of almost $25 billion. It is the leading network to build on and enables developers to create and deploy smart contracts without requiring third-party interference. All projects on the Ethereum network pay fees in ETH, which ensures that ETH tokens are always in demand.
- Cosmos (ATOM) – Cosmos has developed the Inter-Blockchain Communication protocol. This enables two or more blockchains to share data without using an intermediary. This is known as ‘blockchain interoperability’ and it’s expected to play a major role in Web3. Investors can gain exposure to Cosmos via its native token, ATOM.
- Bitcoin (BTC) – While Bitcoin might offer less upside than other cryptocurrencies, it’s the best digital asset for long-term appreciation and also considered the safest crypto investment. Bitcoin is the largest cryptocurrency by market capitalization and, according to a Crypto.com study, has more than 219 million token holders. Bitcoin is currently trading over 55% below its all-time high.
- Stellar (XLM) – Launched in 2014, Stellar has brought financial inclusivity to the masses. Anyone can use the Stellar network to benefit from cheap, fast, and scalable transfers. Stellar transactions average 5-6 seconds and fees amount to just 0.00001 XLM (about $0.0000013). Stellar has formed many notable partnerships, including MoneyGram, IBM, and Circle.
A Closer Look at the Best Cryptocurrency to Invest in 2023
In the sections to follow, we evaluate the best cryptos for 2023.
1. Wall Street Memes – Overall Best New Crypto to Buy ($22 Million Raised in Presale Funding)
Wall Street Memes is the overall best crypto coin to buy. This is a brand-new meme coin that has a huge online following. More than 40 million people view its memes each month, which are largely focused on anti-Wall Street sentiment. Even Elon Musk has viewed and commented on one of its Twitter memes.
In response, Wall Street Memes has taken its movement to the next level; it has developed a native cryptocurrency, WSM. Currently, WSM is in presale and more than $25 million has already been raised ahead of its closing date at the end of September. This makes Wall Street Memes one of the most successful presales of 2023. The good news is that the presale is still ongoing – more on this shortly.
Wall Street Memes is also inspired by the WallStreetBets Reddit movement. This 14 million-strong Reddit group was behind the 2021 meme stock craze. Just like Wall Street Memes, WallStreetBets believes in financial inclusivity. Collectively, the Reddit group invested in distressed stocks that were heavily shorted by hedge funds.
As per the Independent, this resulted in companies like GameStop, AMD, and Blackberry to witness huge gains – while hedge funds lost billions of dollars. By tokenizing its project, Wall Street Memes is already seeing a similar trajectory to WallStreetBets. With its $21 million+ in presale funding, the project has created huge hype in the crypto community.
Not only are presale buyers fans of the Wall Street Memes movement but also the upside potential. The price increases throughout the presale, offering an immediate upside. Moreover, WSM tokens will be listed on exchanges after the presale finishes.
That said, investors should do their own research before investing in a meme coin like Wall Street Memes. While the upside could be huge, nobody can predict what the future holds. Nevertheless, the Wall Street Memes presale does not have a minimum investment requirement. This enables investors to mitigate the risks with smaller purchases.
| Hard Cap | $30,577,000 |
| Total Tokens | 2,000,000,000 |
| Tokens available in presale | 1,000,000,000 |
| Blockchain | Ethereum Network |
| Token type | ERC-20 |
| Minimum Purchase | 100 tokens |
| Purchase with | USDT, ETH, BNB, Bank Card |
2. Sonik Coin – New ERC20 Crypto Travels To A $100 Million MCAP at Lightning Speed, Up To 26,648% APY
Sonik Coin ($SONIK) is a recently released ERC20 token and the world’s first stake to speed platform. This degenerative meme token hopes to take advantage of the popularity of the Sonic the Hedgehog phenomenon. However, it has no connection whatsoever with the franchise or with Sega. The coin is intended for entertainment purposes only.
Sonik has already provided sky-high yields of 26,648% APY. This rate will decrease drastically as more people join the platform, so the earlier the amount is staked, the better – currently the estimated APY is around 40%.
Certain presales can also sell out very quickly, and it is best to get in early should this prove to be the case – the SONIK presale has already raised almost $700k since it launched.
The project has a goal of a $100 million market cap, though this claim has to be taken lightly when dealing with these meme tokens. Still, some meme tokens have delivered ultra large market caps and 1000X price increases without delivering any utility value. This is due to the community movement behind the,
In terms of tokenomics, there is a total $SONIK supply of 299,792,458,000 tokens. This also happens to be the speed of light (299,792,458,000 m/s), the speed at which Sonik can run, and the speed at which the $SONIK token reaches 1000X.
50% of the tokens are available in the presale at a price of $0.000014. with 40% for staking and 10% for liquidity. No tokens are being kept by the founding team.
The presale hard cap is $2,098,547. To take part, users will require USDT or ETH. Make sure you have 0.008 ETH for gas fees. MetaMask or Wallet Connect can be used to facilitate the transaction.
More details surrounding the project can be accessed in the whitepaper, Telegram, or Twitter accounts. Keep in mind that this is a meme token and due diligence is a prerequisite prior to investment.
| Hard Cap | $2,098,547 |
| Total Tokens | 299,792,458,000 |
| Tokens available in presale | 149,286,229,000 |
| Blockchain | Ethereum Network |
| Token type | ERC20 |
| Minimum Purchase | None |
| Purchase with | USDT, ETH |
3. Launchpad XYZ – Simplifying the Web3 Investment Space for Consumers – $1.2 Million Raised so Far
Launchpad XYZ offers growth investors exposure to the Web3 industry. It is building a decentralized portal for consumers, allowing them to navigate Web3 assets without any prior experience.
For example, Launchpad XYZ users can invest in fractionized assets. This will include stores of value such as fine art, real estate, and luxury cars.
While these assets are inaccessible for many, Launchpad tokenizes ownership into tiny fractions. This makes them affordable for the masses. What’s more, tokenized assets can be traded on the Launchpad XYZ exchange. This is in addition to traditional cryptocurrencies and NFTs.
Launchpad XYZ will also offer metaverse experiences and an AI-backed chatbox and also has an alpha Telegram group that recently provided its members a 7,000% call on LINQ.
The latter enables users to seek investment guidance from artificial intelligence. This can help unlock unparalleled insights into the next best crypto to trade.
Additional Web3 assets are available to those staking LPX tokens, which are native to Launchpad XYZ. For example, by staking at least 25,000 LPX, users receive a $500 allocation to private presales.
Stakers will also receive access to exclusive NFT mints. This is in addition to pre-released play-to-earn projects and discounted trading fees.
The Launchpad XYZ presale has raised over $1.45 million and early investors will receive a discounted entry price. Each LPX token costs just $0.0445.
| Hard Cap | $12,500,000 |
| Total Tokens | 1 billion |
| Tokens available in presale | 250 million |
| Blockchain | Ethereum Network |
| Token type | ERC-20 |
| Minimum Purchase | 100 tokens |
| Purchase with | USDT, ETH, BNB, Card |
4. yPredict – Decentralized Marketplace for Predictive Models Built via AI and Machine Learning
yPredict is another of the hottest new cryptocurrencies. This is a presale project that has developed a decentralized marketplace. Its marketplace will enable data scientists and quants to monetize their predictive models. Each model uses innovative technologies like AI and machine learning and will have a specific use case and strategy.
For example, some models are aimed at short-term crypto traders that seek real-time insights. But instead of manually analyzing charts and trends, yPredict predict models automate the process.
There will also be predictive models that offer real-time trading signals. The signal informs users of which cryptocurrencies to buy, alongside the suggested entry and exit price.
yPredict will also host predictive models that perform sentiment analysis. This informs users of the hottest coins in the market, based on social media metrics. For example, the number of ‘likes’ or followers a crypto project gets on Reddit and Twitter. Irrespective of the predictive model, there is a solid vetting process in place before they are sold.
Put simply, the yPredict DAO will test each model to assess its performance and viability. If the DAO approves it, users will be able to subscribe to the model.
Fees are paid in YPRED tokens, which are native to yPredict. YPRED is also the investment token of yPredict. Its presale has raised over $3.6 million. Currently, a presale discount of over 16% is available.
| Hard Cap | $6.5 Million |
| Total Tokens | 100 Million |
| Tokens available in presale | 80 Million |
| Blockchain | Polygon |
| Token type | Polygon Matic chain-based |
| Minimum Purchase | 200 tokens |
| Purchase with | MATIC, ETH, BNB, USDT, Card |
5. Chimpzee – Green Crypto Project Combining Environmental Practices With Sustainable Growth
Chimpzee is the best crypto to buy now for sustainable investors. The project will appeal to investors seeking sustainable growth while simultaneously making the world a better place.
At the forefront of this is helping endangered animals and combating deforestation. For example, Chimpzee recently donated $15,000 to the WILD Foundation and has raised more than $1.25 million in its presale.
This organization helps protect elephants from poachers. Chimpzee has also donated funds to deforestation charities. This has yielded 20,000 new trees in Guatemala. Not to mention 1,200 trees in the Amazon rainforest.
Many other green projects are lined up, which are funded in various ways. For example, a portion of Chimpzee merchandise sales are donated to charities.
Moreover, Chimpzee has also created an exclusive collection of NFT passports. Not only does this provide access to its play-to-earn game but holders receive passive rewards. Staking a Chimpzee NFT will yield an APY of up to 20%. The proceeds from its NFT sales will help fund Chimpzee’s sustainable goals.
Chimpzee will also appeal to long-term investors, especially those investing in its presale. Currently, each CHMPZ token is selling for just $0.00085. After the presale, CHIMPZ will be listed on an exchange at $0.00185. This means presale investors get a discount of nearly 55%. CHIMPZ is also offering a presale bonus of up to 100% when investing early.
| Hard Cap | $1.8 Million |
| Total Tokens | 200 Billion |
| Tokens available in presale | 40 Billion |
| Blockchain | Ethereum Network |
| Token type | ERC-20 |
| Minimum Purchase | 100 tokens |
| Purchase with | USDT, ETH, Bank Card |
6. Scorpion Casino – Online Casino Tokenization With a Presale Upside of Over 200%
Scorpion Casino has developed a unique concept; a decentralized casino site that is backed by crypto tokens. Its casino is also live, allowing players to gamble cryptocurrencies anonymously.
Scorpion Casino hosts everything from blackjack, video poker, and slots to live dealers and sports betting and has now raised around $800k in its presale.
The project’s native token, SCORP, is currently being sold at presale prices. There are many perks to buying SCORP early. First and foremost, the current presale price is just $0.017. Compared to the exchange listing price of $0.05, that’s an immediate upside of over 200%. Not only that but early presale investors will also be eligible for an exclusive NFT.
There are four NFT types available, Bronze, Silver, Gold, and Platinum. Scorpion Casino NFTs come with many benefits. This includes a presale bonus of up to 40%, not to mention 25% in free casino credits. The specific NFT received depends on the amount invested and requires a presale purchase of at least $1,000.
Additionally, SCORP tokens can be staked to earn passive rewards. These are paid daily and can be used to gamble on Scorpion Casino games. Scorpion Casino is also running a $250,000 giveaway.
Presale investors are automatically entered into the giveaway after completing their purchase. Do note that once the current presale batch sells, the price of SCORP will increase.
| Hard Cap | $1,000,000 |
| Total Tokens | 200,000,000 |
| Tokens available in presale | 480,000,000 |
| Blockchain | Binance |
| Token type | BEP20 |
| Minimum Purchase | 100 tokens |
| Purchase with | USDT, ETH, Bank Card |
7. eTukTuk – Creating a Network of Electric Tuk-Tuks and Charging Stations in the Emerging Markets
eTukTuk is also one of the best new crypto to invest in for long-term sustainability. Put simply, the project will reduce carbon emissions in the emerging markets through electric tuk-tuks.
Not only will this help overpopulated cities reduce their carbon footprint but also make transportation more affordable.
eTukTuks are developed with locally sourced materials and with sustainability and safety in mind. What’s more, the project will also power a network of charging stations. This will further reduce costs for drivers. We also like that the eTukTuk ecosystem is being developed on the blockchain.
This offers many benefits for eTukTuk drivers, such as transparent pricing and the ability to tokenize ownership. The blockchain will also allow eTukTuk drivers to tokenize their identities, enabling them to remain compliant with local transportation bodies. eTukTuk also has its own native token, TUK.
TUK comes with many utilities, including payment for electric charging services. It can also be used by passengers when paying eTukTuk drivers.
TUK is currently being sold at presale prices, where $50k has been raised so far, enabling early investors to secure a discount.
| Hard Cap | $120,000 |
| Total Tokens | 2,000,000,000 |
| Tokens available in presale | 5,000,000 |
| Blockchain | Binance |
| Token type | BEP20 |
| Minimum Purchase | 100 tokens |
| Purchase with | USDT |
8. Pikamoon – Innovative Play-to-Earn Metaverse With NFT and Crypto Rewards – $3.8 Million Raised in Presale Funding
Pikamoon is another top-rated crypto presale that is attracting a lot of interest from growth investors. The project has developed a blockchain-based game that comes with play-to-earn rewards.
The game is based on a classic battle card concept but in the metaverse. First, players will need to mint a Pikamoon NFT.
This represents players in the Pikamoon metaverse and enables them to battle virtual monsters. By defeating a monster, players will earn PIKA tokens, which are native to the project. Players can also explore the Pikamoon metaverse to find NFT rewards. These increase the player’s strength and include weapons and potions.
Players can also fast-track their progress by purchasing in-game assets from the Pikamoon marketplace. All transactions are conducted in PIKA, which ensures the token has real-world utility. Players can also sell their in-game assets to earn additional income. In terms of its fundraising campaign, the Pikamoon presale is currently in stage three.
It has already raised over $3.85 million from early investors. The presale price is currently $0.0006. This will increase to $0.0007 after the presale when PIKA is listed on an exchange.
This enables phase three investors to secure a discount of nearly 15%. Those investing in the presale will also qualify for a free Pikamoon NFT – granting them access to the game.
| Hard Cap | $6 million |
| Total Tokens | 50 billion |
| Token available in presale | 15 billion |
| Blockchain | Ethereum |
| Token type | ERC-20 |
| Minimum purchase | N/A |
| Purchase with | USDT and ETH |
9. XRP20 – Brand-New Project Improving on the Original XRP with a Deflationary Supply and Estimated APY of 40%
XRP20 is a brand new crypto project that is currently in presale. In a nutshell, the project solves many of XRP’s inefficiencies, making it one of the best crypto to buy for long-term upside. For example, XRP20 is built on the Ethereum network, meaning that investors can stake their tokens.
Not only does this keep the XRP20 ecosystem secure but staking generates passive rewards. This is a great long-term strategy for investors who want to combine appreciation with passive income. No such feature exists with the original XRP. What’s more, XRP20 has developed a burning mechanism within its smart contrast.
When XRP20 is transferred to another wallet, 0.1% is removed from the circulating supply. This reduces the XRP20 supply over time, creating scarcity. In contrast, the original XRP continues to increase its circulating supply periodically. This dilutes the value for current XRP holders.
The successful token sale was wrapped up in just three weeks, with the token now available on multiple exchanges and offering an estimated APY of 40%.
10. Polygon – Layer 2 Solution for Ethereum – Increasing Scalability to 65,000 Transactions per Second
Polygon was launched in 2019 with a simple objective – to help Ethereum-based projects to increase scalability, speed, and cost-effectiveness.
In a nutshell, ERC20 projects ‘bridge’ to the Polygon network, while remaining on the Ethereum blockchain. This increases the efficiency of ERC20 projects considerably.
For instance, Polygon can handle up to 65,000 transactions per second. While the Ethereum network can currently handle just 12 transactions per second. Additionally, Polygon transactions take just two seconds to process. What’s more, Polygon transaction fees are much lower than Ethereum.
In light of this, the Polygon ecosystem now boasts over 200 ERC20 projects. This includes everything from Chainlink, Render, and Decentraland to Aave, Dai, and Gala. To operate within the Polygon ecosystem, projects pay fees in MATIC. This is Polygon’s native token and it currently has a market capitalization of $6.3 billion. This is 70% lower than its all-time high.
Cryptocurrencies are a volatile asset and prices may go up or down
11. Chainlink – Connecting Blockchains and the Real-World With Reliable Data
Chainlink is an established crypto project that connects blockchains with real-world data. Ordinarily, blockchains can only obtain data from within their respective ecosystems.
This prevents blockchains from accessing real-world information – something that will be crucial in the Web 3.0 space.
Chainlink solves this issue through ‘Oracles’. Put simply, Oracles obtain data from online sources and feed it back into blockchain smart contracts. Chainlink Oracles are decentralized and data is only considered after it has reached consensus. This ensures that data is free from manipulation and inaccuracies.
For example, suppose Chainlink provides flight information to an insurance-based smart contract. It will check thousands of data providers in real-time to ensure the information is correct beyond doubt. Developers pay fees to use Chainlink Oracles, settled in LINK tokens. LINK is currently valued at $3.8 billion – 80% below its former peak.
Cryptocurrencies are a volatile asset and prices may go up or down
12. Ethereum – Large-Cap Smart Contract Ecosystem Supporting Over 450,000 ERC20 Tokens
Launched in 2015, Ethereum is the most valuable cryptocurrency after Bitcoin. As per CoinMarketCap data, Ethereum currently has a market capitalization of over $220 billion.
Its decentralized framework enables developers to build and execute smart contracts. More than 450,000 ERC20 tokens have built their ecosystems on top of Ethereum.
Some of the most recognized ERC20 projects include Tether, USD Coin, Shiba Inu, Dai, the Sandbox, Decentraland, and Enjin. Whenever an ERC20 transaction goes through the Ethereum network, fees are paid in ETH. This creates demand for ETH, making it one of the best cryptocurrency to buy now for utility.
Ethereum also has a solid investment thesis – especially at current prices. For instance, while investors will currently pay around $1,800 per ETH, this is over 60% below its all-time high. Additionally, the Ethereum Foundation is working on many core improvements to the network. This includes a significant increase in scalability and a decrease in GAS fees.
Cryptocurrencies are a volatile asset and prices may go up or down
13. Cosmos – Market Leader in Interoperability – Enabling Blockchains to Communicate and Share Data
Cosmos is the best coin to invest in preparation for Web 3.0. After all, blockchains are expected to play a major role in the next generation of the internet.
But currently, blockchains can only share data within their own networks. This limits the real-world use cases for blockchain.
This is where Cosmos comes in. It has developed the Inter-Blockchain Communication protocol, which supports blockchain ‘Interoperability’. Put simply, this enables multiple blockchains to communicate and share data. This means Web 3.0 technologies – like crypto, NFTs, and the metaverse, can operate across multiple networks.
For example, an Ethereum NFT can obtain data from the Solana ecosystem. Or XRP tokens can transfer data to Cardano. Cosmos is fueled by ATOM, its native crypto token. ATOM currently has a market capitalization of just under $3 billion. That said, during the prior bull market, ATOM was valued at over $10 billion. This offers a discounted price of over 70%.
Cryptocurrencies are a volatile asset and prices may go up or down
14. Bitcoin – Long-Term Store of Value With a Discounted Entry Price of Over 55%
Bitcoin is the most recognized crypto asset globally. According to CoinMarketCap data, Bitcoin has generated gains of over 4.7 million percent since 2011.
At its peak, Bitcoin was valued at over $1.2 trillion. Currently, Bitcoin is trading over 55% lower, giving it a market capitalization of approximately $565 billion.
This offers a great entry price for investors. After all, the next Bitcoin halving event is expected in April 2024. This is often the catalyst for a new, extended rally – considering the Bitcoin mining reward is reduced by 50%. Bitcoin is also considered a great store of value. Its supply is predictable and limited – capped at 21 million BTC.
Unlike other stores of value – such as real estate and gold, Bitcoin is easily transferred. It can also be fractionalized into small units, making it accessible to all budgets. Bitcoin is also used as a hedge against hyper-inflationary currencies, such as the Turkish lira and Argentine peso. Most importantly, Bitcoin is completely decentralized and is not controlled by any government.
Cryptocurrencies are a volatile asset and prices may go up or down
15. Stellar – Financial Inclusivity for the Unbanked With Fast and Low-Cost Global Transfers
Stellar is an established cryptocurrency that was launched in 2014. It has its own blockchain network, which is one of the most efficient in the market.
For instance, Stellar can handle up to 1,500 transactions per second. It has an average block confirmation time of 5-6 seconds and fees cost just 0.00001 XLM (about $0.0000013).
Stellar has many use cases, especially for people living in the developing world who do not have access to basic financial services. According to the World Bank, more than 1.4 billion people are still without access to a bank account. This means that people rely on third-party remittances more than ever.
The Stellar network cuts out the middleman and drastically reduces fees and transfer times. In other words, beneficiaries receive the vast majority of their remittance payments. Stellar is also suitable for companies needing to make cross-border payments. IBM and MoneyGram, for instance, have already partnered with Stellar.
Stellar’s native cryptocurrency, XLM, currently has a market capitalization of $3.8 billion. This is over 75% below its former all-time high. As such, XLM is the best crypto to buy now for a hugely discounted entry price.
Cryptocurrencies are a volatile asset and prices may go up or down
How to Decide Which Cryptocurrency is Best for You
It is important to know that not all cryptocurrency investments will generate profits.
Bitcoin, for example, has shown incredible gains over its lifecycle but investors who bought during the 2021 bull run now hold an asset that is more than 50% down from its all-time high.
BTC may well recover to reach new all-time highs but it is not guaranteed – cryptocurrency is a highly volatile asset class and many projects see huge gains only to fall away and fail to ever recover.
Therefore, research is absolutely crucial when selecting the best crypto to buy now and investors should also be aware of their own tolerance for risk and budget before investing in any token.
Here’s what to consider when searching for the top cryptocurrency to invest in.
Does the Token Have Utility?
A good starting point is to evaluate the utility of a crypto token. In simple terms, utility refers to the token’s use case. For example, we mentioned that YPRED tokens are required to purchase yPredict’s trading and predictive models.
- This means people will have a reason to buy YPRED tokens, other than for investment purposes only.
- Similarly, TUK tokens are used for payment at eTukTuk charging stations – this incentivizes drivers to buy and hold TUK.
Over time, a token’s utility can increase demand, especially for non-crypto investors.
In contrast, some crypto tokens do not have any utility. While they can still generate investment gains, the target market is smaller. This is because people will only buy the respective token for speculation, rather than any identifiable use cases.
Meme coins are the most obvious example of this, with that particular crypto niche existing solely on hype, community interest and FOMO (fear of missing out).
Several meme coins such as Pepe, Wojak and Sponge have made incredible headlines in 2023 after returning thousands of percent in profits for early buyers. There are dozens more, however, that have failed and left investors with nothing.
Does the Project Have a Sizable Community?
Some crypto projects have had unparalleled success because of a large community following. After all, token holders are incentivized to promote their crypto investments to the broader market.
This means sharing and liking posts on social media and spreading the word on Reddit and other forums – this can quickly create hype and FOMO, meaning more people invest in the project.
Shiba Inu is a great example of a cryptocurrency that witnessed huge growth without any identifiable use cases. Due to the size of its community, Shiba Inu became a multi-billion dollar cryptocurrency within a year of its presale.
A similar trajectory could be seen with Wall Street Memes. Just like Shiba Inu, Wall Street Memes is a meme coin with a huge online following. More than 40 million people view its memes every month, which generates significant exposure.
This has filtered down to the Wall Street Memes presale campaign, with over $25 million raised from investors in just 12 weeks. If Wall Street Memes retains its momentum after its initial exchange listing, the upside could be sizable.
Does the Crypto Project Solve Any Existing Problems?
When choosing the best crypto investments, investors should research what problems the project solves, if any. This can help the project grow as more people become aware of the solution.
- For instance, Launchpad XYZ makes the Web3 investment space more accessible to consumers.
- A great example is the platform’s fractional asset feature.
- Put simply, Launchpad XYZ will purchase a store of value, such as real estate or fine art.
- It will then tokenize the asset into small units.
- Consumers can then buy a small fraction of the asset, often for just a few dollars.
- Launchpad XYZ has also developed a decentralized exchange, enabling users to trade their fractional assets. This makes it a top crypto to buy.
Word of caution – many crypto projects have highly ambitious objectives and while they might claim to have a solution for a real-world problem, this isn’t always the case.
The project might need several years to achieve its goals, if they ever achieve them at all, which increases the risk significantly.
Again, proper research and due diligence comes into play. Even if a project promises to solve a major issue, does it have a plan and the capability to do so?
What is the Upside Potential of the Crypto?
The upside potential is extremely difficult to ascertain with any certainty, after all, the crypto markets are unpredictable and often irrational.
For instance, at its peak, Shiba Inu had a market capitalization of $38 billion. This means Shiba Inu was worth more than the majority of US-listed companies, despite its limited real-world utility.
Shiba Inu has since added various utilities to its ecosystem – including its own layer-2 blockchain, decentralized exchange, NFT collection and metaverse – but its price has struggled to recapture those highs of early 2021.
Nonetheless, the market capitalization is one of the most effective ways to assess the upside potential of a crypto.
For example, while Bitcoin is one of the best crypto to buy now, it is already valued at over $500 billion. Similarly, Ethereum is currently valued at over $200 billion.
There is still an upside on these large-cap cryptocurrencies, and they are considered much safer than newer coins, but gains will be limited when compared to smaller projects.
This is why presales are so attractive to crypto investors. After the presale finishes, the majority will be listed on exchanges with a market capitalization of under $10 million. If the project then takes off, it can appreciate rapidly.
As an example, BTC20 recently launched on exchanges having sold out its $6 million presale in just two weeks – the token then pumped 500% from $1 to almost $6 within three days of its listing.
Bitcoin, on the other hand, would need to reach a price of around $160,000 to make a 500% gain.
While that’s definitely possible in the future, it could take years because of the sheer size and volume needed for a move to that price, before even considering the resistance it would face on the way up as other investors took profits.
Different Types of Investors and Understanding Risk Tolerance
Investors are not built equally and each individual person will have a different appetite and tolerance for risk, based on various internal and external factors.
This can come down to the make-up of their personality – with some people naturally more cautious or risky than others – as well as influences such as their overall financial situation and investing goals.
There are three general profiles for an investor – conservative, moderate and aggressive – and it is vitally important for individuals to understand where they fit into those descriptions before they begin their investment journey.
Furthermore, it is important to fully grasp your current individual financial situation. $1,000 can be pocket change to some or a month’s wages to another, so investing those funds appropriately is wiser than chasing huge gains that may never come.
We would always suggest keeping a diverse investment portfolio not only within crypto niches but also one that has stocks, real estate and so on.
Are There Any Bear Market Discounts Available?
Bear market discounts are highly attractive. They enable investors to ‘buy the dip’ when the broader markets are down. In other words, the best cryptocurrencies to invest in can be purchased at a huge discount.
This strategy is also used in the stock market. For example, in early 2020, the S&P 500 declined from 3,380 points to just 2,304 points in a week. Those buying the dip would have secured a discount of over 30%. Since then, the S&P 500 has hit highs of 4,607 points, translating to growth of almost 100%.
Currently, the majority of cryptocurrencies are also trading at a huge discount. This has been the case since the markets peaked in late 2021.
Bitcoin and Ethereum, for instance, are trading at over 55% and 60% below their all-time highs. In turn, now could be a smart time to start buying quality cryptocurrencies while prices are still low.
Does the Project Have Notable Partnerships or Endorsements?
The cryptocurrency markets are very reactive – especially when a positive news development is announced. For example, if a project secures a promising partnership with an established company. Or if a public figure endorses a specific cryptocurrency.
Crucially, this often gives a crypto project credibility. For example, Stellar has formed partnerships with IBM and MoneyGram, which highlights that its payments network offers real-world value and is valued by globally recognizable firms.
Similarly, we found that Elon Musk has replied to a Wall Street Memes Twitter post. While Musk simply commented ‘Literally’, the post was viewed more than 1 million times. This brought a significant amount of eyes to the Wall Street Memes presale.
Important Considerations When Looking for the Best Cryptocurrency to Invest in
The risk-reward spectrum of cryptocurrencies is much higher than the stock market, which means that while the upside potential is high, so are the risks.
Before investing, consider the important points discussed below.
Evaluate Affordability
After choosing the best crypto to buy right now, one of two things can happen, the investment can either yield a profit or a loss.
Investors should, therefore, ensure that they are only investing money they can afford to lose.
So before investing, it’s wise to do some calculations on everyday expenses, such as rent, food, and taxes and take all of that into account before setting an investment budget.
As outlined in the risk profile box above, some investors will have more spare cash than others based on wide variety of factors and financial responsibilities.
Independent Research is Crucial
Never buy a cryptocurrency because of third-party advice. While analysts can help with insights and predictions, these should be taken with a grain of salt, with many influential players in the industry being paid to offer positive opinions.
Instead, take these recommendations as a prompt to look further into a project and then carry out independent research.
This will ensure that the crypto investment is made in an informed manner. There are many ways to research the viability and potential of a cryptocurrency. This includes the project’s whitepaper, which should outline its goals and unique selling points.
If the cryptocurrency is already established, consider reading relevant news stories. CoinMarketCap can also be used to analyze the financials, such as market capitalization and real-time pricing.
How to Conduct Crypto Coin Research and Spot Red Flags
Once you have found an interesting project or one that looks like it may have potential, it is important to conduct research.
The first step should be a project’s website, where a whitepaper and roadmap should be available to view. The whitepaper should essentially be a comprehensive manual of everything the project is setting out to do, including information on its utility, developing team, tokenomics and more. The roadmap is a plan of action that shows how the project will achieve its aims – any project can promise a $1 billion market cap, but showing how it plans to get there is another thing.
Next, investors should look at the developers behind the project. Having a doxxed and KYC-verified team is a major advantage, which usually means the project will not be a scam. Anonymity should be seen as a red flag with many projects, but is common with meme coins – in that case, it is important to look at the past track record of developers.
Partnerships and collaborations are also a good way to measure if a project has potential. If they have managed to secure partnerships with major brands or venture capital funds, that can be a huge seal of approval.
Check the sentiment around a project on social media, decide whether it is positive or negative and that there is sufficient community support for the project to grow. As outlined earlier, having a large number of followers in itself is not always necessarily a great sign, posts need to have high engagement as well.
Finally, check that a project has had its smart contract audited by reputable third-party firms. Legitimate projects will have nothing to hide in that regard, while nefarious ones will make them difficult to find.
Again, even following these steps does not guarantee that a project will be a success – ultimately, the market decides.
Create a Diversified Portfolio
Seasoned investors will need to build a diversified portfolio as it reduces project-specific risks. In essence, do not put all your eggs in one basket.
- For example, consider an investor who went all-in on FTX Token near its peak of $77.
- Currently, the investor’s crypto portfolio would be down 98%.
- An experienced investor might have allocated just 5% of their portfolio to FTX Token.
- The balance would have been made up of other cryptocurrencies.
- This means that the FTX collapse wouldn’t have had a major impact on their overall portfolio.
The specific breakdown of a portfolio will depend on the investor’s risk profile. For example, some investors will allocate a small percentage to cryptocurrencies and the rest to other assets. This might include index funds and stocks.
Either way, the crypto-portion of the portfolio should be well diversified. For instance, if the investor has $1,000 to invest, they could buy 20 different cryptocurrencies at $50 each. Or 10 cryptocurrencies at $100 each, etc.
Create a Suitable Investment Strategy
There are many different ways to buy and sell cryptocurrencies. Investors should choose a suitable strategy for their goals and risk tolerance.
For example, some investors prefer buying and holding crypto tokens long-term. This often means ignoring short-term trends and buying more tokens when prices are cheap. This strategy is ideal for beginners and those looking to invest passively.
Some crypto investors are a lot more active, where short-term gains are more favorable. For instance, they might decide to buy a presale crypto like Wall Street Memes. Due to the immediate upside on offer, they might sell the presale crypto after it’s listed on exchanges.
Alternatively, some investors prefer trading cryptocurrencies, taking advantage of market volatility.
However, this requires knowledge of chart analysis and technical indicators, which won’t suit newbies and takes a while to master.
Get Ready for Volatility and Unpredictability
Cryptocurrencies are still a new concept, especially when compared to stocks and other assets. This makes it a lot more difficult to predict market cycles. The speculative side of cryptocurrencies is also an issue.
The markets are extremely volatile, which can be intimidating for novice investors. Irrespective of the crypto being purchased, volatility cannot be avoided.
Investors must be prepared to see their portfolio rise and fall rapidly, and over short periods of time.
While timing the markets is often impossible, investors should have an exit strategy in place – cashing out a percentage of gains once the crypto hits a specific price to ensure some gains are earned.
Is Now a Good Time to Buy Crypto?
Similar to other financial markets, even the most successful investors find it difficult to predict broader cycles. This is especially the case in the volatile crypto markets. For example, Bitcoin peaked at over $68,000 in late 2021.
It has since hit lows of around $16,500 in December 2022, a decline of approximately 75%, but in July 2023 returned to almost $32,000, a gain of 90% in those seven months.
The key point is that predicting these wild highs and lows is beyond realistic for most, even industry experts make poor calls and are unable to confidently pick when Bitcoin and other cryptos will improve or decline.
With this in mind, rather than trying to time the market, it might be best to dollar-cost average (DCA) crypto investments.
This is a strategy where investors buy a small amount of crypto every week or month. When the markets are declining, the investor will buy crypto at a lower price point. And when the markets are rising, the investor will see their portfolio grow.
It will mean that short-term volatility has a lesser affect on a portfolio and is more in line with a longer-term strategy. This strategy should be used in conjunction with diversification.
Another option is to fully capitalize on the crypto bear market. For instance, some investors will ‘double down’ when prices are low, as they are right now. This enables investors to buy the best cryptos at a huge discount.
This strategy will pay off if the chosen cryptocurrencies regain their prior highs during the next bull run. But of course, there are no guarantees that this will happen and prices can always drop lower than they currently are.
Conclusion
In summary, we have cleared the mist on the best crypto to invest in in 2023. However, investors should still do their own research and ensure they create a well-diversified portfolio.
In our view, Wall Street Memes is the best crypto coin to buy now – this trending meme coin has raised more than $25 million in presale funding since it launched.
Wall Street Memes will soon be listed on exchanges, so investors will need to move fast to secure a presale discount.
References
- https://coinmarketcap.com/view/polygon-ecosystem/
- https://crypto.com/company-news/global-cryptocurrency-owners-grow-to-425-million-through-2022
- https://dashboard.stellar.org/
- https://twitter.com/elonmusk/status/1636924379086077954
- https://www.independent.co.uk/news/business/gamestop-share-price-reddit-hedge-fund-melvin-capital-b1793543.html
- https://coinmarketcap.com/currencies/polygon/
- https://blockchair.com/ethereum/charts/transactions-per-second
- https://coinmarketcap.com/view/polygon-ecosystem/
- https://coinmarketcap.com/currencies/chainlink/
- https://coinmarketcap.com/currencies/ethereum/
- https://www.worldbank.org/en/news/feature/2022/07/21/covid-19-boosted-the-adoption-of-digital-financial-services
- https://coinmarketcap.com/currencies/shiba-inu/
FAQs
Which crypto is best for future investment?
While Bitcoin and Ethereum are also ideal for long-term investors, a greater upside might be available on smaller-cap coins. For instance, Wall Street Memes, Sonik, and Launchpad XYZ.
Will crypto rise again in 2023?
The broader crypto markets have performed well so far in 2023. Year-to-date, the total market capitalization of all cryptocurrencies has increased by over 45%.
How do you know which crypto will go up?
The crypto markets are unpredictable, volatile, and often irrational. Rather than trying to pick a specific crypto coin, it might be best to diversify and invest in numerous coins with different uses cases.
Which crypto is best to buy now?
We rate Wall Street Memes as the best cryptocurrency to invest in now. This is a trending presale cryptocurrency that has already raised $25 million since it launched.
